The FTSE 100 fell into the red after RBS (RBS) reported a third quarter loss, while shares in big oil companies BP (BP.) and Royal Dutch Shell (RDSA) fell on lower oil prices.
HSBC (HSBA) was 1.2% lower on the back of the results from RBS.
The pound was also flat against the dollar and euro, weakening earnings of blue chip companies.
West Texas Intermediate (WTI) and Brent crude oil slipped to $49.57 and $50.42 per barrel, respectively.
Gold cheapened 0.2% to $1,265 per ounce, while copper gained 0.2% to $4,762 per tonne.
FTSE 100 RISERS AND FALLERS
Royal Bank of Scotland (RBS) fell 1.8% to 192.8p as it posts a third quarter loss at the headline level, obscuring that adjusted operating profit was £1.3bn, up from £1.1bn the year before.
British Airways owner International Consolidated Airlines (IAG) is one of the few blue chip risers, gaining 5% to 435p on solid third quarter earnings and new profit guidance for 2016. Chief executive Willie Walsh said the business expects to deliver a 2016 operating profit of around £2.2bn.
FTSE 250 RISERS AND FALLERS
Aerospace and defence engineer Senior (SNR) dipped 2% to 173p as analysts at Berenberg reassessed earnings estimates following a profit warning this month. Double digit downgrades across the next three years caused earnings per share estimates to fall to 14.2p in the year to 31 December 2016 and 15.2p and 18p for the two years after.
Chemicals company Elementis (ELM) reassured investors that its full year earnings per share will meet expectations, despite challenging conditions in its chromium division.
SMALL CAP RISERS AND FALLERS
Shares in Kazakstan-based Roxi Petroleum (RXP) jumped 9% to 10.5p after announcing oil-bearing intervals at Well A6 was larger than those previously identified at Deep Wells A5.
Tethys Petroleum (TPL) has failed to raise funding, triggering a share price crash of 45%.
Energy company Independent Oil & Gas (IOG) acquired Oyster Petroleum, a subsidiary of Verus Petroleum. Oyster held the Southern North Sea licences containing the Vulcan East, Vulcan North West and Vulcan South fields.
Premium drinks minnow Distil (DIS) soured despite encouraging half year results. The Blavod black vodka owner reported 26% top line growth and a 26% reduction in operating losses, with revenue driven by a growing number of stockists across all trade channels.
Story provided by StockMarketWire.com